原木盘中急跌，后市走势几何？

Report Summary 1) Report Industry Investment Rating No investment rating is provided in the report. 2) Core View of the Report The log market is expected to remain weak in the short - term. The combination of information and fundamental factors has intensified the short - term bearish sentiment, and the market has returned to a weak operating rhythm. It is recommended that speculators mainly wait and see, and pay attention to the results of subsequent negotiations on the special port charges [3][4]. 3) Summary by Related Content Market Performance - On October 27, the main contract of log futures decreased with reduced positions, with an intraday decline of over 5% and reaching 780 yuan/cubic meter. In the spot market, the quotation of 6 - meter medium H at Lanshan Port was 800 - 810 yuan/cubic meter, unchanged. The foreign quotation was 120 US dollars/JAS, with no transactions [2]. Reasons for Market Movement - Information aspect: After China's counter - measures against the US 301 ship charges on October 14, the log futures rose. But after the Sino - US economic and trade consultations on October 25 - 26, the market expected the cancellation of the special port charges, leading to long - position reduction and a decline in the futures price [3]. - Fundamental aspect: The fundamentals are gradually weakening. There is a concentrated arrival of goods at ports recently, and the decline in sales of laminated wood has pressured the price of imported timber. Also, it is difficult to conclude deals at the current foreign quotation, and the quotation is expected to be readjusted [3]. Fundamental Situation - The fundamentals of the log market remain weak, with no clear bullish drivers. The peak - season expectation has weakened, and port inventories are expected to gradually accumulate. Although foreign price increases have boosted valuation, the weak demand and low willingness of traders to take delivery have led to large selling pressure after the price increase. Log imports from New Zealand are seasonally increasing in the fourth quarter, and the inventory level is still relatively high considering the large decline in demand [4].